Range Expansion – This study annotates micro range expansions as ‘RE’.
We frequently show an RE on our charts when price has reached a Range Expansion.
The Range Expansion display in the upper left hand corner can be used to tell you what the magnitude is the recent legs.
In order to define a leg, this study uses Calculation Mode 2 of the Zig-Zag study.
We have found it helpful to have a handy reference to a market's current leg when there is an opportunity to either turn a bot on, or adjust a target when the average legs increase.